SINGAPORE (Mar 5): Far East Group announced that it has acquired the entire issued and paid-up ordinary shares in M-Tech Air-Con & Security Engineering.
The vendors are Quek Poh Chuan and Lee Sui Fook and the consideration for the acquisition is $7 million including 2.98 million new M-Tech shares.
M-Tech's core business is to provide Air Conditioning and Mechanical Ventilation (ACMV) services for residential and commercial buildings. It has an issued and paid up capital of $0.5 million divided into 0.5 million ordinary shares.
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